When was apple almost bankrupt

Steve Jobs himself said in a D8 conference in that Apple was just 90 days away from being bankrupt. Jobs said, "Apple was about 90 days away from being bankrupt back then, in the early days and it was much worse than it thought it was when I went back initially. As part of that deal, Microsoft bought non-voting shares worth million dollars in Apple which they promised not to sell for the next three years.

This investment bailed out Apple from the financial crisis during that time. In , Time magazine carried an exclusive story on Apple-Microsoft Deal. The cover of the magazine quoted Jobs thanking Bill Gates for saving Apple. At that time when Microsoft stepped in, a lot of people were not on-board with it as they believed Jobs sold what he stood for just for some cash. In fact, in the Macworld Boston Conference when Jobs brought in Bill gates via satellite downlink, the audience booed him.

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Rather, they went on to, in lockstep, shaping the computing industry together. For those of us lucky enough to get to work with him, it's been an insanely great honor. I will miss Steve immensely. Billionaire Bill Gates says these 3 fields have the most potential to change the world.

What billionaires Bill Gates and Warren Buffett would do if they lost it all and had to start over. Like this story? But a decade before he strode on stage to deliver one of the most memorable product unveilings in consumer tech history, Apple was nearly down and out. It had just cut a third of its workforce, and it was about 90 days from going broke, Jobs would later reveal. Jobs had been brought back after being ousted by the company he co-founded and made a shock announcement at an event in August The investment gave the company some much-needed cash and the assurance of Office support proved crucial because the Microsoft Office software was so heavily relied upon by professionals.

Jobs and Gates had a famous and fairly acrimonious rivalry at the time.